Oil & Gas
Nearly 50 rigs were scrapped last year
Nearly fifty drilling platforms were scrapped in 2020, which is significantly more than in previous years, reports the French financial services provider Kepler Chevreux.
Oil & Gas
Pacific Drilling latest rig operator to file for Chapter 11 bankruptcy
New York-listed Pacific Drilling is the latest rig operator to file for a voluntary Chapter 11 bankruptcy in the US to get out of a…
Oil & Gas
Schlumberger cuts 21,000 jobs
Schlumberger is cutting 21,000 jobs in response to the pandemic and related oil crisis. CEO Olivier le Peuch says the second quarter “has probably been…
Offshore
Plans for larger ‘Pioneering Spirit’ shelved indefinitely
Offshore contractor Allseas has postponed the announced construction of a larger successor to the offshore platform remover Pioneering Spirit indefinitely. Before the corona crisis and…
Offshore
Van Oord axes 500 jobs
Van Oord becomes the latest offshore contractor to heavily cut back on its workforce. Covid-19, the slump in oil prices and deteriorating market conditions in…
Oil & Gas
Allseas to lay up vessels and dismiss several hundred crew
Offshore contractor Allseas will reduce its workforce by 300 in the course of 2020, which will mostly impact its vesselsā€™ crews. The company says it…
Offshore
Seaway Heavy Lifting not impacted by cost reductions at Subsea 7
Last week, Subsea 7 announced it would cut 3000 of the 12000 jobs it provides worldwide. According to a spokeswoman, its Dutch/German subsidiary Seaway Heavy…